Susquehanna Fundamental Investments LLC Increases Stake in Cohen & Steers Inc $CNS

Susquehanna Fundamental Investments LLC boosted its position in Cohen & Steers Inc (NYSE:CNS) by 72.6% during the second quarter, HoldingsChannel reports. The fund owned 26,896 shares of the asset manager’s stock after buying an additional 11,317 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Cohen & Steers were worth $2,048,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Cohen & Steers during the second quarter valued at about $343,390,000. Wasatch Advisors LP increased its stake in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after purchasing an additional 323,759 shares in the last quarter. State Street Corp increased its stake in shares of Cohen & Steers by 1.0% in the fourth quarter. State Street Corp now owns 1,180,611 shares of the asset manager’s stock worth $74,119,000 after purchasing an additional 12,042 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cohen & Steers by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,174,579 shares of the asset manager’s stock valued at $73,467,000 after purchasing an additional 50,580 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cohen & Steers by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,988 shares of the asset manager’s stock valued at $71,066,000 after purchasing an additional 30,884 shares during the period. 51.47% of the stock is currently owned by institutional investors.

Cohen & Steers Stock Performance

Shares of CNS opened at $77.49 on Wednesday. Cohen & Steers Inc has a 52-week low of $58.39 and a 52-week high of $86.56. The stock’s 50-day simple moving average is $80.87 and its 200 day simple moving average is $72.69. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%. The company had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $149.45 million. During the same period in the previous year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Cohen & Steers Inc will post 3.53 earnings per share for the current fiscal year.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.68 annualized dividend and a yield of 3.5%. Cohen & Steers’s payout ratio is currently 82.21%.

Insider Activity at Cohen & Steers

In related news, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the sale, the executive vice president owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the sale, the chief accounting officer directly owned 22,146 shares in the company, valued at $1,841,661.36. This trade represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CNS. Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Evercore reiterated an “outperform” rating and issued a $88.00 price objective on shares of Cohen & Steers in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.00.

Cohen & Steers Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).